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MONTREAL, Aug. 28, 2019 /CNW Telbec/ - Ecolomondo Corporation (TSXV: ECM) (the "Company" or "Ecolomondo") hosted its groundbreaking ceremony on August 21, 2019 to launch the beginning of the construction of its new latest generation TDP turnkey plant that will be located on Tessier street in Hawkesbury, Ontario.
The ceremony was held on August 21, 2019, in the presence of numerous dignitaries and community representatives. The president and CEO of Ecolomondo, Eliot Sorella, along with the Mayor of the Town of Hawkesbury, Mrs. Paula Assaly, the federal Member of Parliament, Mr. Francis Drouin, the president of Maylan Group, Mr. Daniel Landry, and the Director of the project financing group (Export Development Canada), Mr. Jean-Philippe Nolet, performed a symbolic dig to officially launch the beginning of construction.
"Once commissioned, this TDP turnkey facility will set the stage for Ecolomondo's global expansion. This facility will be an industry first, where it will not only process the tire waste but will also process end-products to improve their quality, marketability, consistency and value", said Eliot Sorella, president & CEO of Ecolomondo. He further added "Ecolomondo, a waste-to-resources company, along with its TDP technology, will help bridge the way to maintaining a sustainable economy."
The Hawkesbury TDP turnkey facility will be a first of its kind and be used as a technological showpiece to promote TDP turnkey facilities internationally. Once built, this state-of-the-art facility will be housed in a 46,200 sq.ft building on approximately 12 acres of land and consist of four processing departments (shredding and rubber preparation, thermal, carbon black processing, oil distillation) and, when fully operational, this facility is expected to process a minimum of 18,000 tons of tire waste per year and produce approximately 5,300 tons of recovered carbon black, 47,600 barrels of oil, 2,000 tons of steel, 1,800 tons of fiber and 1,600 tons of process gas.
As earlier reported, the Company recently completed its project financing loan of $32.1 million with Export Development Canada ("EDC"), which is expected to close before the end of the third quarter. The Company believes that EDC will be a key player in the Company's global growth and the proliferation of TDP turnkey plants. EDC is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage.
About Ecolomondo Corporation
Ecolomondo is a cleantech Canadian company that is commercializing its waste-to-products technology. The Thermal Decomposition Process ("TDP") converts hydrocarbon waste into marketable commodity end-products, namely carbon black substitute, oil, gas and steel. Technologies such as Ecolomondo's are expected to play an important role in resource recovery needed in today's circular economy.
Management believes that technological breakthroughs in areas of emissions, process optimization, automation, end-product processing and safety, position Ecolomondo to become an industry leader.
The Company's main revenues will come from the sale of TDP turnkey facilities and royalties from their operations. TDP facilities will generate revenues from the sale of end-products, tipping fees and carbon credits. Ecolomondo's first focus is to market TDP turnkey facilities that use scrap tires as a feedstock, because scrap tires yield end-products with a higher commercial value, especially the recycled carbon black.
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Ecolomondo believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Ecolomondo disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Ecolomondo Corp
For further information: Elio Sorella, Chairman and Chief Executive Officer, Ecolomondo, Tel: (450) 587-5999, firstname.lastname@example.org, www.ecolomondo.com